JD.com inks ‘boundaryless retail’ tech deal with Ruyi
Chinese retailer, JD.com, is to provide e-commerce technology to Ruyi, owner of such fashion brands as Aquascutum, CERRUTI1881, Sandro and Maje.
It will deploy a full suite of 'boundaryless retail' technology, including smart logistics, supply chain solutions, Big Data-enabled inventory management and membership systems. It will also establish a retail management system for Ruyi’s subsidiary brands, and Ruyi will deploy JD’s virtual and augmented reality shopping technology in its bricks and mortar stores.
The companies will jointly build fashion and lifestyle concept stores, initially in Beijing and Shanghai, as JD continues its 'Retail as a Service' strategy, offering its technology and infrastructure to traditional retailers and vendors.
They will also expand their existing efforts to bring Ruyi’s portfolio brands to JD’s over 300 million customers. Ruyi already operates several flagship stores on JD.com, including Cerruti 1881 Kent & Curwen, and D’Urban, and will add stores for Sandro, Maje, Aquascutum and its other brands. The two will also establish a joint fashion fund to finance new initiatives and support up and coming designers and brands.
“This wide-ranging partnership agreement will help upgrade Ruyi’s capabilities across the online and offline spectrum,” says Yafu Qiu, Chairman of the board, Ruyi Holding Group. “JD’s unrivalled expertise in e-commerce and advanced logistics capabilities makes it a great partner for Ruyi as we take a world class fashion group into the future.”
“We are delighted to work with Ruyi to build out our vision of ‘boundaryless retail,’ in which consumers can buy whatever they want, whenever and wherever they want it,” says Shengli Hu, President ar JD Fashion and Lifestyle. “Partnering with Ruyi, a respected name – and rising star – in the world of global fashion, is an important step in expanding our luxury offerings for that vision.”
